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Nov
Wrap – Week Ended 11/5/10 (In Progress)
Housekeeping Watch: Surprised this site is still running. Please make sure to bookmark the backup site:
www.zmanbackup.wordpress.com
Market Sentiment Watch: Euphoric. A bit too much so for my taste. If you recall from the dire, doldrums of summer, most of the bullish market soothsayers were looking for 1,200 by year end. We're at 1,225. The economy remains in slow growth mode and I can't believe that changes in Congress and another shot of adrenalin from the Fed (now in the form of a $600 billion dollar IV drip) will make everything grow to the sky. I do think we are probably going to see higher highs though until we get some kind of tax cut extensions passed, probably at the tail end of the President's trip to Asia. But then you have to think that near term data will be only so-so and not rally-rally.
To be continued Sunday ....
In an interesting move, The Chartist has recommended going 100% invested on Friday. That is a major change as the account status was 100% cash immeiately prior. His recommendations are all basic materials and emerging markets.
November 7th, 2010 at 8:47 amEarnings Est
Current Qtr.
Dec 10
Next Qtr.
Mar 11
Current Year
Dec 10
Next Year
Dec 11
Avg. Estimate
0.41
0.63
1.29
3.51
Z, what is your view of EOG considering that they are now outspending cash flow, prices for assets proposed to sell are down, and they still have those fracking frac problems going well into 2011-do the consensus estimates above appear plausible-2011 is quite a jump in earnings
thanks
November 7th, 2010 at 11:35 amChoices will put address in Monday's weekend mailbag
Same for one emailed in set of questions.
November 7th, 2010 at 12:29 pmhttp://www.amconmag.com/blog/2010/11/04/the-future-of-bloated-defense/
November 7th, 2010 at 1:59 pmHere we go again-still spending to fight the cold war.
ATPG out a few minutes ago http://www.businesswire.com/news/home/20101107005093/en/ATP-Announces-Quarter-2010-Results-Operations-Update
November 7th, 2010 at 4:24 pmLost $1.15/sh (est -.66)…. Revenues 102mln (est 122mln)
Production (in line with their 10/13 slide presentation) of 21.1MBoe/dy, Oil 77% of Rev
I don't think that anyone was really expecting a good qtr here… but the shorts (focusing on earnings ) may have a reason to press. Hopefully I will get an opportunity to get long.
And don't forget tomorrow is another POMO day by our friends at the Fed. http://www.newyorkfed.org/markets/tot_operation_schedule.html Recent stats say that POMO days are good days for the bulls.
z – i remember the delayed reaction in WHX last time. i may short more mon morn. it goes ex div 11/17. does that mean if u are short and cover on . 11/17 u are not responsible for paying the div or do u have to cover 0n 11/ 16? thks
November 7th, 2010 at 6:09 pmAndy – pretty sure you'd have to cover by 16th but don't hold me to that, anyone?
November 7th, 2010 at 6:11 pmEGY…has some very interesting charts…the P&F chart has a 5 box buy signal breakout, you don't see this very often, so there was quite a bit of buying pressure buildng up, I added a weekly for some additional perspective…there is a long wide triangle type pattern on the weekly, which I'm thinking could display the next potential area of resistance at about $7.25, you can see this intersects the topside trendline on the weekly…this resistance zone somewhat agress with the daily breakout pattern price target, which based on the pattern structure suggests as much as $8…
November 7th, 2010 at 8:11 pmhttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3724280
re 5 – The big news was about MC 941#. This well was finally announce a few weeks ago, after being delayed several times. The company initially announce it was producing in excess of 7,000 b/d, which in itself was very strong. But the announcement today is even stronger: "During October’s production cycle, the well averaged 8.2 MBoe/d (86% oil) with an October exit rate of 12.2 MBoe/d (86% oil)."
November 7th, 2010 at 10:53 pmBig cash flow and reserves increase coming from this. Shorts might be uncomfortable, with 40% of float shorted.
should be MC 941 #3
November 7th, 2010 at 10:54 pmre 9 – yeah, original forecast was 7 to 10,000 boepd, so that is a fat month exit rate.
November 7th, 2010 at 11:29 pmCONTEST: EOG
November 7th, 2010 at 11:53 pmAs I am late to the party, I highly doubt that this horse will come in.
Got you down for EOG
November 8th, 2010 at 12:39 amstorage units green cove springs fl
Zman’s Energy Brain ~ oil, gas, stocks, etc… » Blog Archive » Wrap – Week Ended 11/5/10 (In Progress)
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